Analysts Set M&T Bank Co. (NYSE:MTB) PT at $158.48

M&T Bank Co. (NYSE:MTB) has been given a consensus rating of “Hold” by the fourteen research firms that are covering the company, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $158.48.

Several equities analysts have weighed in on MTB shares. Wells Fargo & Company lifted their price objective on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Tuesday, April 16th. Barclays boosted their target price on shares of M&T Bank from $150.00 to $170.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Piper Sandler reduced their price target on shares of M&T Bank from $156.00 to $152.00 and set an “overweight” rating on the stock in a research report on Friday, January 19th. JPMorgan Chase & Co. boosted their price objective on shares of M&T Bank from $170.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley raised their target price on M&T Bank from $160.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th.

M&T Bank Price Performance

Shares of MTB opened at $146.83 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.99 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $140.42 and its 200 day simple moving average is $133.43. M&T Bank has a 1-year low of $108.53 and a 1-year high of $148.23. The company has a market cap of $24.46 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.19 and a beta of 0.80.

M&T Bank (NYSE:MTB) last announced its quarterly earnings results on Monday, April 15th. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.13 by ($0.11). The business had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. M&T Bank had a net margin of 19.52% and a return on equity of 10.68%. During the same period in the prior year, the business earned $4.09 EPS. On average, research analysts forecast that M&T Bank will post 13.98 earnings per share for the current fiscal year.

M&T Bank Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 4th were paid a $1.30 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.20 annualized dividend and a dividend yield of 3.54%. M&T Bank’s dividend payout ratio is presently 35.16%.

Insider Activity

In other news, EVP Doris P. Meister sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the completion of the sale, the executive vice president now owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other M&T Bank news, Director Kirk W. Walters sold 28,845 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $145.00, for a total transaction of $4,182,525.00. Following the completion of the transaction, the director now owns 6,367 shares in the company, valued at approximately $923,215. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Doris P. Meister sold 1,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $132.30, for a total transaction of $132,300.00. Following the transaction, the executive vice president now owns 7,274 shares of the company’s stock, valued at approximately $962,350.20. The disclosure for this sale can be found here. Insiders have sold a total of 37,119 shares of company stock valued at $5,341,012 over the last ninety days. 0.82% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MTB. Burns J W & Co. Inc. NY lifted its holdings in M&T Bank by 1.3% during the 4th quarter. Burns J W & Co. Inc. NY now owns 6,034 shares of the financial services provider’s stock valued at $827,000 after buying an additional 80 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of M&T Bank by 3.2% during the fourth quarter. First Horizon Advisors Inc. now owns 2,548 shares of the financial services provider’s stock valued at $349,000 after acquiring an additional 80 shares in the last quarter. Fulton Bank N.A. grew its stake in M&T Bank by 2.3% in the first quarter. Fulton Bank N.A. now owns 3,619 shares of the financial services provider’s stock worth $526,000 after purchasing an additional 81 shares in the last quarter. Robinson Value Management Ltd. grew its position in shares of M&T Bank by 0.3% during the 3rd quarter. Robinson Value Management Ltd. now owns 33,542 shares of the financial services provider’s stock worth $4,241,000 after buying an additional 85 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its position in M&T Bank by 41.7% during the 3rd quarter. Sunbelt Securities Inc. now owns 340 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

M&T Bank Company Profile

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.